OUTSIDE MARKETS SUMMARY:
| CORN: | $0.01 Lower |
| SOYBEANS: | $0.03 Lower |
| SOYBEAN MEAL: | $3.70 Higher |
| LIVE CATTLE: | $0.55 Lower |
| DOW JONES: | 3 Points Lower |
| NASDAQ: | 190 Points Lower |
| CRUDE OIL: | $2.16 Lower |
MIDDAY MARKET UPDATE:
Block cheese price closed 0.25 cents higher at $1.65 with three loads traded. Price initially increased by 1.50 cents only to slip back into the close. This added some negativity to the market. Barrel cheese price declined by a penny to $1.52 with four loads traded. Dry whey price increased 1.75 cents, closing at 47 cents with one load traded. This is the highest dry whey price since Sept. 15, 2022. Class III futures are mixed coming back from the earlier pressure during and shortly after spot trading. Futures are 11 cents lower to 12 cents higher. Butter price declined 3.75 cents, closing at $2.7650 with no loads traded with no buyers showing up to do any business. Grade A nonfat dry milk price remained steady at $1.23 with two loads traded. Class IV futures are mixed from 12 cents lower to 19 cents higher. Butter futures are 1.25 cents lower to 2 cents higher. Dry whey futures are 0.50- 1.87 cents higher. The Biannual Cattle Inventory and the December Agricultural Prices reports will be released this afternoon with the January Federal Order prices released later.
